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Report: Shipbuilders Need to Target Cruise Market

According to the Korea Times, the next five years will provide an opportunity for Korean shipbuilders to construct cruise ships with a high-profit margin, the Korea Shipbuilders' Association said. The construction of luxury cruise ships declined steadily after the September 11 terrorist attacks on the United States. But with a recent favorable upturn, the market is expected to expand especially in the large and medium-size category through 2010, with an annual growth rate of about 5 percent, the association said. This prospect of stronger demand for cruise ships will offer local shipbuilders opportunities to venture into the construction of cruise ships with less risk. South Korea is the no.1 shipbuilding country in the world with aggregate exports of $17.6 billion last year. However, Korean shipbuilders haven't seen significant sales in the cruise ship business, which accounts for about 20 percent of the global shipbuilding market. Until recently, Europe had almost completely monopolized the building of cruise ships. According to the Association of European Shipbuilders and Ship Repairers, a quartet of Europe-based shipbuilders that has maintained a combined 84-percent market share since 2002. The average age of cruise ships in service at present is about 42.4 years for 19 ships over 10,000 gross tons, and 37.8 years for those less than 10,000 gross tons. Accordingly, replacement demand is likely to become active in the near term, the association said.


Many 1Q Orders for South Korean Shipbuilders

South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to far exceed yearly targets, Korea Times reported. Hyundai Heavy Industries, the world's largest shipbuilder, clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates - Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries - won a combined $2.75 billion worth of orders in the first quarter


Aveva: Navies Can Reduce Project Cost, Risk and Timescales

Photo: Aveva

New business paper describes how technology offers proven collaboration capabilities that benefit all parties in warship procurement projects Aveva today announced its publication of a new business paper, “Taking Command: How Aveva technology can increase capabilities in naval fleet management.” In this paper, Aveva examines six ways that navies can exploit technologies used in other sectors, such as the offshore industry


China Targets Shipbuilding Sales of $189 Billion By 2015

SHANGHAI -- China aims to increase annual sales by domestic shipbuilders to $189.7 billion by 2015, as it works toward its goal of becoming the world's leading shipbuilding country, the Ministry of Industry and Information Technology said.  China also plans to raise the value of annual shipbuilding exports to more than $80 billion by 2015, the ministry said, in a five-year plan for the shipbuilding industry. The plan provides new details regarding China's push for significant growth


South Korean Foreign Ship Orders Drop

New foreign orders received by South Korean shipbuilders fell 15.7 percent in the first nine months of this year from a year ago, provisional figures from the Korea Shipbuilders' Association show. Orders in the nine-month period totaled 5.8 million gt for 110 ships, compared with 6.9 million gt for 121 ships in the same period a year earlier. New orders received in September alone totaled 1.2 million gt for 16 vessels. It did not give comparable 1998 figures


South Korean Ship Orders Up 127% In 1999

Combined orders received by South Korean shipbuilders totaled 12.72 million gt for 227 ships in 1999, up 127.2 percent from a year earlier, according to the Korea Shipbuilders' Association said. New orders received in December alone totaled 3.71 million GT for 66 ships, the association said in a statement. Ships completed in 1999 amounted to 9.48 million gt for 163 ships, up from 7.28 million gt for 143 ships a year earlier, it said


STX Shipbuilding wins $373m Order from India

The STX Shipbuilding Co., South Korea's seventh-largest shipbuilder, has won a $373m order to build six petrochemical goods carriers for a shipping company in India. The order, which accounts for 30.7 per cent of STX Shipbuilding's sales last year, calls for the Korean shipbuilder to deliver the six vessels to India's Shipping Corp. by July 2010, the company said in a statement. Source: ANTARA


VT Halter Marine - New Platform Supply Vessel

VT Halter Marine Inc (VT Halter Marine), a company of VT Systems Inc (VT Systems), signed a contract with Candies Shipbuilders, LLC (Candies Shipbuilders), on Nov. 5, to construct a 285’ Platform Supply Vessel for approximately $8.9m. (www.vthaltermarine.com)


South Korea New Builds May be Canceled

According to a March 10 report from Reuters, South Korea's shipbuilders are showing signs that they will delay or cancel orders. For years, shipbuilders have been a major source of dollars for South Korea, but now this latest news may further erode the won. (Source: Reuters)


Shipbuilders Make Financial Contributions to International Maritime Developments

The Ministry of Maritime Affairs and Fisheries (MOMAF) said that the Korea Shipbuilders's Association (KOSHIPA), comprising nine major Korean shipbuilders, would subscribe a fund for technical cooperation projects amounting to $100,000, in order to enable developing countries to advance their shipbuilding industries in the International Maritime Organization (IMO) arena. KOSHIPA plans to contribute $50,000 to the fund by the end of this year, and add more $ 50,000 as of early next year


Maran Orders 4 LNGCs from DSME

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) will build four large Liquefied Natural Gas Carriers (LNGC) for Maran Gas.   The four LNGCs are expected to be delivered between 2017 and 2019 and will be built with the NO96-GW technology


Taiwan Naval Fleet Adds Home-Grown Vessel

Panshih (Source: Ministry of National Defense, Taiwan)

Taiwanese Navy formally took delivery Friday of a new locally designed supply vessel that it said will help enhance Taiwan's maritime combat capabilities.   In a ceremony hosted in the harbor in Kaohsiung, the vessel was formally turned over to the Navy from local shipbuilder CSBC Corp


Congressmen Lead Effort to Defend US Shipbuilders

Photo courtesy of Huntington Ingalls Industries

Congressman Joe Courtney (CT-2) and Congressman Steven Palazzo (MS-4), along with 30 bipartisan House colleagues, sent a letter this week to Senate leadership urging opposition to an amendment that they say would strip domestic construction requirements that help strengthen America’s


Damen's Customised Dredger for Van Oord

Damen Cutter Suction Dredger 650

  Damen has signed a contract with leading dredging and marine contractor Van Oord for the supply of a CSD 650 custom suction dredger together with an FCS 1605 Fast Crew Supplier, initially for operations in the Caspian Sea. Designed and delivered by Damen Dredging Equipment in Nijkerk


Ingalls Starts Fabrication on NSC Kimball

Paul Bosarge, a burner specialist workleaderman at Ingalls Shipbuilding, initiates a cut of steel on the National Security Cutter Kimball (WMSL 756) using the Avenger 3 Plasma cutter (Photo by Andrew Young/HII)

Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division has officially started fabrication on the U.S. Coast Guard's seventh National Security Cutter (NSC), Kimball (WMSL 756).   "We continue to increase our learning on this shipbuilding program


W&O Opposes McCain Amendment

John McCain (official photo)

W&O announced its opposition to the McCain Amendment (amendment #2) to S.1, which it said would cripple the U.S. shipbuilding industry by striking the U.S. build requirement provisions of the Jones Act.   “The amendment Senator John McCain has put forth would devastate


GTT, Conrad Shipyard Ink Deal for LNG Barges and Bunker Tanks

GTT signs license agreement with Conrad Shipyard for membrane containment systems for LNG barges and bunker tanks   Gaztransport & Technigaz (GTT) announced that its U.S. subsidiary, GTT North America, has signed a Technical Assistance and License Agreement (TALA) with U.S


HHI, HSL Ink Pact to Build Submarines

HSL Layout (Image: Hindustan Shipyard Limited)

Hyundai Heavy Industries (HHI), world’s largest shipbuilder, signed memorandum of understanding (MoU) with Hindustan Shipyard Limited (HSL) to build submarines for India as part of a 40-year program to strengthen the nation’s naval forces. 


Saab, Damen Jointly Pursue Submarine Contracts

Photo: MCD

Saab, Damen ink partnership agreement to pursue prospects in the international submarine market Swedish defense and security company Saab has partnered with Dutch shipbuilder Damen Shipyards to explore future opportunities in the international submarine market


New Survey Vessel Due for Liverpool

Bibby Athena (Photo: Osiris Projects)

Bibby Athena, the latest custom-build vessel from Osiris Projects, is due to arrive in the U.K. in the next few days.   Built by French shipbuilders Socarenam, the vessel was constructed to the same specifications as the company's Semi-SWATH catamaran, Bibby Tethra, launched in 2011.


21 dead, 1 missing after tug sinks in Yangtze

Tug boat tragedy

  Chinese authorities have confirmed that 21 people were killed and one is still missing after a tug boat undergoing sea trials sank in the Yangtze River, the state-run Xinhua news agency reported on Saturday. The boat had 25 people on board when it sank on Thursday and three were rescued


Ingalls Awards STEM Grants to Gulf Coast Schools

Image: Ingalls Shipbuilding

Ingalls Shipbuilding donates more than $102,000 in STEM grants to Gulf Coast schools   Huntington Ingalls Industries’ Ingalls Shipbuilding division has awarded more than $102,000 in grants for 28 projects at schools and educational organizations in Mississippi and Alabama


Hyundai Merges Offshore and Plant Divisions

Image: Hyundai Shipbuilding Division

 To improve efficiency Korea’s Hyundai Heavy Industries (HHI) announced its intention to merge its plant division into the offshore business. The world's biggest shipbuilder said that they will take place after current projects are completed.


US Navy Sees Competition for Next Amphibious Ship

LPD-17 (Photo courtesy: Huntington Ingalls)

The U.S. Navy will insist on competition for the next U.S. amphibious warship despite a decision last year to base the ship on the LPD-17 ship designed by Huntington Ingalls Industries Inc, Marine Corps Major General Robert Walsh said on Tuesday.


Shipbuilder Davie Performs Double Launch

Photo courtesy of Davie

Davie launches Hull 718 (Cecon Excellence); refloats CCGS Des Groseilliers the same day; empties the largest dry dock in Canada for new work   Canada’s largest shipbuilder Davie announced a series of accomplishments, achieved over the past several weeks.  






 
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